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The Retirement Life Right Model
DEFINES THE EVERGREEN LIFESTYLE
A life right scheme refers to a contract whereby a resident enjoys the same privileges as if the home was purchased by freehold or sectional title, except that the developer remains the sole owner of the property. This is crucial in that the developer carries the responsibility of management, maintenance and upkeep of the property and the village. The price of the life right is predetermined and is always market-related. Essentially life rights could be viewed as a housing product, an insurance policy, and a good night’s sleep all rolled into one.
Predictable costs and levies
- Pricing is flexible and can be tailored to suit your circumstances.
- Apart from the purchase price, there are no transfer duties or VAT.
- There are no special levies.
- By law, levies must be calculated two years in advance.
- Costs for communal services and facilities are shared.
Occupation for life
You and your partner are granted lifetime occupation.
The agreement is covered by the Housing Development
Schemes for Retired Persons Act 65 of 1988, and the
life right becomes an asset in your estate.
Professional management
The developer – Evergreen – continues to own
the physical asset, so they carry the costs and the
responsibility for upkeep, maintenance, security,
landscaping, healthcare, etc. It is also in their best
interest to keep the villages in pristine condition.
Independence and autonomy
All Evergreen villages are set up so that residents can
live active, independent, autonomous lives.
